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A text message alert system for those close to being overdrawn has been agreed by the UK banking industry. From April, all the major High Street banks will offer current account customers the option of receiving a phone or e-mail warning if they are close to going into the red. The service is one of many changes to consumer lending, including store card offers, agreed by providers.
They also plan a seven-day account switching service by September 2013.
The measures come at the end of a review by the government into consumer credit and...Read more HERE
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